Huge state pension age update as Rachel Reeves comes under new pressure

A new online petition has been launched calling for the state pension age to remain at 67. The Government is planning to increase the age both men and women are eligible for the state pension to 67 between 2026 and 2028.

A further rise from 67 to 68 is expected to be introduced between 2044 and 2046. Now, campaigner Steven Hillyer is calling on the Government to keep the age of retirement at 67 for people born before 1977. He argues these people have already "planned their retirement accordingly".

"We think it is already far enough off and many people simply cannot work longer," he added, according to the Daily Record.

"We think they have paid in their dues and it is totally unfair to move their entitlement further away at a late stage in their lives."

The petition so far has around 1,200 signatures - still some way of the 10,000 that would require the Government to publish a written response.

After 100,000 signatures, a petition is considered for a debate in Parliament.

Workers aged 51-53 could be the first affected if the state pension age rise to 68 is brought forward by a year, potentially reducing their pension payments by up to £17,774, according to calculations by Rathbones, one of the UK's leading wealth managers.

A new state pension age review was announced by the Government in July.

The Government is required to carry out a review every six years, with the latest set to conclude in 2029.

It will assess whether the current age threshold remains appropriate in light of increasing life expectancy, rising public spending and a growing population.

Last month, an expert warrned the triple lock could be reformed as a result of the review, citing concerns over the rising annual cost of the state pension.

Chancellor Rachel Reeves said the review into raising the state pension age is required to ensure the system is "sustainable and affordable" and that it was "right" to assess the age at which people can receive the payments as life expectancy increases.